New Delhi, Feb 3 (IANS) The India-US trade agreement is the most important deal for the country and will generate more jobs and also add to foreign exchange, said Ashishkumar Chauhan, NSE MD and CEO, on Tuesday.
Speaking to IANS, Chauhan stated that the trade deal between the US and India was expected for a long time, and now will be implemented immediately, unlike the European deal, which is expected to roll out after six months.
“India is the only country that has manpower, high-tech appreciation, and technology adoption. And that is why all countries are ready to negotiate with us. With the deal, India will export more, generating more jobs and adding to its Forex,” Chauhan said.
With a reduction of US reciprocal tariff on Indian goods from 25 per cent to 18 per cent, “leather goods, garments, marine products -- all employment-generating areas, will revive export to the US,” he said, adding that "in the next 10 years, India will have a golden age”.
Chauhan stated that portfolio investors are also positive on the trade deal.
“Everyone is very happy, especially the investors. And because of the deal, the chances of companies increasing their profits are very high,” he said.
"Indian investors have faith in the Prime Minister's vision for the country's trajectory. Consequently, an increasing number of domestic investors are backing Indian companies every month. I believe the recent trade deals are a direct result of that confidence, demonstrating that Indian investors are now capable of self-funding their own growth," the expert told IANS.
Chauhan mentioned that NSE's own international exchange, which runs in Gift City for about 22 hours, closed at 25,970 -- about 2.5 per cent high at 2 o'clock last night.
“Even today, when the Indian market opened, NSE also opened up by 2.5 per cent. I feel that overall, this is the initial reaction. As companies analyse an increase in their profits, they will get the rating further,” Chauhan said.
The expert further noted that for the last 30-35 years, the US and several countries in Europe were supporting China. But now they see China as their competition and are thus moving away from it.
"India needs the right partners who can import from us and to whom we can export our services, skills, and manufactured goods -- countries like the US, Japan, Australia, and those in Europe. China is unlikely to import our goods. Therefore, by negotiating with these nations, we are effectively creating competition for China," Chauhan said.
--IANS
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